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INFLUENCING PERFORMANCE IN THE FINANCIAL SERVICES SECTOR. NEW APPLICATIONS OF BUSINESS INTELLIGENCE
Directors and senior managers in financial services have been using Decision Support or Business Intelligence solutions for some time now, to manage day-to-day business activities. For instance; market segmentation, sales analysis and simulations, and budget planning and financial management.
However, despite these positive experiences, banks and insurance companies realise that they have yet to fully benefit from Business Intelligence. Tools are operational, contribution is undeniable and yet the benefits are too often limited to a specific use or function. Indeed, a growing number of employees have learnt to use the information to improve their own performance and that of the activities falling under their responsibility. However, the impact of these improvements is not sufficiently noticeable in the strategic goals of the company, in a way which would enhance value in the eyes of its customers, partners and shareholders, or in a way that would ensure constant growth and sustainability in the market.
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